The World Gold Council (WGC) is expected to deliver a White Paper proposing improvements to the London gold price fix. Read on page 7 of the print edition of Mining Weekly of envisaged reform involving trades that are executed transparently within a proper governance framework. Currently, the gold fix is set twice a day during a conference call between four banks. But the UK’s Financial Conduct Authority in May exposed irregular activity and fined one of the banks – Barclays – for allowing one of its gold options traders to push the gold price down. London could find itself on the wrong side of competition emerging with the kilobar contract in Singapore if it fails to introduce proper reform and the WGC has undertaken to spend time engaging a wider range of stakeholders for inputs and suggestions before tabling the final document revealing its views.

Mechanisation, automation and innovation are in the air in the mining sector, which has fallen behind many other industries in terms of these aspects. Given the growing volume of technology available, it is not surprising that many mining companies are keen on implementing proven advances. One such company is De Beers Consolidated Mines (DBCM), which has provided for automated driverless truck haulage in the design of its new underground diamond mine at Venetia, in Limpopo province, which late last year saw Anglo American chairperson Sir John Parker shovelling the first project spadeloads, shoulder to shoulder with South African President Jacob Zuma. Read on page 9 of this edition of Mining Weekly of DBCM hinting on the likelihood of several more technological advances at the R20-billion Venetia project, which is expected to contribute $19.9-billion to the South African economy between 2012 and 2043.

With conventional blasting presenting inherent seismic and environment risk, it is little wonder that an increasing number of mining companies are opting for managed shock tube electronic detonation, which provides much better control of both surface and underground blasts. Control of the timing of the blast is said to facilitate far greater control over ground vibration, noise and rock fragmentation. Read on page 13 of this edition of Mining Weekly of a recently published paper providing insight into the evolution of explosives and the main motivations for the shift from the use of dynamite cartridges to the use of on-site chemical energy. Coupled with electronic blasting, this is seen as rendering the blasting process safer and more efficient. Also, lead in detonators is giving way to replacements that are less harmful to the environment and wireless electronic systems are poised to replace the wiring currently used.